The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

cynners- cant work out if this is a very strong long term buy and hold or what is best strategy at the moment .- thought of going long this morn after 8% rise in USA yesterday;but left it to late and considering the sheer size of some of the sells on LSE yesterday including two of 28 and 10 million @365p i was somewhat dettered ./ so juste sitting on my hands at the moment . ...lncidentally;.Have you ever read a leaked document prepared by B.P. risk managers dated oct of 2002 titled " cost benefit analysis of three little pigs " ? lt makes for both sickening and really shocking reading reg. B.P.s somewhat cavalier attitude towards personnel safety in the workplace .{ B.P. attempted via the courts to suppress it but failed } l thought it was a sick joke at first ,but it was substantiated up by a leaked e-mail from a chemical engineer in risk management at B.P... Lets not forget BP were fined $50m ,and are already on 3 years probation for felony violations following an explosion at a Texan oil refinery in 2005. This order,itself, they then breached, with Alaskan pipe leak at Prudhoe bay in 2007 which led to a field producing 8% of USA supply being closed - a matter yet to be resolved .,,,,,,and even this very thread was began by poster reffering to Nigerian oil spill back in 2003. Then we have all the lawsuits reg. North sea swamping the courts - l honestly dont know where this will all end esp with Obama and politicos having thier two pennys worth .........A lot of this i lay at the door of Brownie whose drastic cost cutting exercises led to B.P. s safety record being called into question - and his enforced resignation. But to blame B.P. alone for deepwater is pure folly -For as many Americans work on this project as do Brits !!!

frenchie try going with the flow.

i don't think i would jump either way on this one ..... to my mind, the likes of AFR or TLW or PMO or DNX (perhaps) make far better sense .... if you want a bit of excitement, then the falklands bunch will give you plenty of that

Made a small fortune on this Friday.

+30

how to make a small fortune ... entrust your broker with a large one

Living in Thailand for most of the year, one becomes forgetful of the PC shit that the British have to endure.

In the land of smiles one is able to speak about things as one finds them and not be fearful of upsetting the likes of Jews, black's, ragheads, benefit claiments, and all other whinging race card players, who have desended into our country legally, or in the back of a Eddy Stowbart lorry.

unless of course you happen to upset the ruling junta ..... i take it you have a good and suitably subservient wife who does what she's told ..... and when you click your fingers, promptly fetches you your pipe, slippers and chotapeg as the sun goes down over the yardarm, while you recline in the rocking chair on the veranda

cynic you sound envious.

Agreed Mr. H ...Cynners obviously reminiscing about his hedonistic past :-))- you sure you didnt get your chotapegs confused with burrerpegs last night Cynners ? ............................................................................................. must confess i find the p/c (aka social engineering enforceable by draconian legal penalties ) that has permeated the Brit way of life this past 20 years is absolutely infuriating/gauling ; absurd is perhaps a better adj....lts all ONE way traffic .Nowhere in the rest of the world- excluding the USA -does this sheer nonsense occur ,and look at the state of that crazy place......C/man - Now dont get me wrong; l have no problem with genuine nationalism but FFS take a chill pill ..John Birch or Barry Goldwater would be proud of your postings esp. with your references to KKK ,but your collective posts, sound one step short of the chilling rattle of the cattletrucks being coupled , doors sliding into their locking mechanism .......and a long journey east .

hali - not at all envious; living in f/e has no appeal for me whatsoever ..... however, i have considerable distaste for the "buy a wife" culture that is now quite common - applicable to FSU countries and similar too ..... i am even more concerned about the underlying far right tendency that has underlain british society for centuries, and which regularly re-raises its head

for all that, and before various members start getting over-excited, i am assuredly strongly opposed to the indiscriminate open-door immigration that has been permitted in recent years

cynic havn't you met any "trophy" wives here in UK?

yes, but though you may call it semantics, it's not quite the same thing, as those wives are often pretty shrewd and manipulative, whatever their counterpart may think ... admittedly the fatter the wallet, the more attractive the man; ask bernie ecclestone!

to me, it's the expected and offered subservience of (most?) these bought f/e and e/e women that i find distasteful, but then i don't find it appealing either

BP's shares have shed 40% of their value in the past two months. The company was worth 73 billion on Friday. Industry sources warned that if Obamas administration removes a cap on potential liabilities, as several politicians have proposed, BP could be forced into Chapter 11 bankruptcy protection.

Last week an American government panel increased its estimates of the size of the leak, saying the well was spewing as much as 40,000 barrels a day, equivalent to the Exxon Valdez spill every five days.

The revelation heaped further pressure on BP in America, where it has been vilified in the press and by Obama. The president has suggested that Tony Hayward, BPs chief executive, should be sacked and that the company should halt its dividend until the clean-up is completed.

Hayward faces a grilling by the House oversight and investigations sub-committee on Thursday. To prepare he will face a murder board a dress rehearsal by his lawyers.

The appearance may be made more difficult by the next phase in BPs effort to control the spill. It is capturing 16,000 barrels a day from the well and this weekend will hook up another system to take an extra 5,000-10,000 barrels. The oil will not be captured but burnt off, creating an enormous plume of black smoke. Politicians and environmentalists have expressed concerns about the resulting pollution.

BP said this weekend that two tankers capable of handling 50,000 barrels a day would not be available for another month.

More nasty news at BP, sell at 378p.

there's certainly nothing obvious to support sp, so i was very slow off the mark this morning ..... anyway, still prob a shekel or two to be made

What is a shekel, is it jewish money

now who would have thought you ignorant?
how can a currency be jewish? ...... or catholic or methodist or anything else of that ilk

whilst there doesn't appear to be anything short term going for this company. long term i believe it will go back up again and [re-]continue with its divi's. [although i dont subscribe to 'its too big a co to let fail' i do believe it is in the interests of the US & UK for it not too

the 64 million dollar question is: what is a good price to start accumulating these?
ie anyones crystal ball able to predict the bottom for an initial purchase and then a monthly drip feed. the idea being that they should grow sufficiently to help pay off the mortgage in 20 years time.

Alex

I personally think anything below 200p would be fair value given its high cleaning up costs, payments to Americans who lost their incomes, oil loss, etc.

that is where i was thinking. just wasn't sure if anyone else thought they get that low